LAT: Wells Fargo loses consumer case over overdraft fees

[steve2470]

http://www.latimes.com/business/la-fi-wells-20100810,0,5994603.story?track=rss

Wells Fargo & Co. should pay about $203 million to customers who say the bank manipulated debit-card transactions without their knowledge to increase revenue from overdraft fees, a federal judge ruled.

U.S. District Judge William Alsup in San Francisco issued the ruling Tuesday, deciding the case without a jury.

Wells Fargo changed the way it treated customers' daily debit transactions and cash withdrawals in December 2001, according to the lawsuit filed in 2007. Transactions with the highest dollar amount posted first, rather than in the order they occurred.

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